Fujifilm announced today that it is establishing a Seoul, South Korea–based subsidiary to accelerate its business growth in the cell culture media space.
With paid-in capital of ₩300 million (roughly $250,000), the new subsidiary opens tomorrow.
It will import cell culture media for bioproduction and advanced cell and gene therapies. Its goal through its direct sales and marketing will be to meet local customers’ needs for custom media. The market for cell culture media in South Korea has been growing at an annual rate of 15%, according to Fujifilm.
“The establishment of a new subsidiary is an important step toward further business expansion in the rapidly-growing market in South Korea,” said Yutaka Yamaguchi, corporate VP and GM of the Life Sciences Business Division at the Tokyo-based company.
“Fujifilm will, as a partner for customers in the bio-industry, continue to strongly support their research, development, and manufacturing, thereby contributing to the further progress in medicine that leads to people’s health.”
The company is presently expanding its cell culture media business through its Fujifilm Wako Pure Chemical and Fujifilm Irvine Scientific subsidiaries. It’s leveraging a global sales networks, R&D and quality assurance capabilities, and cGMP manufacturing facilities in Japan, the United States and Europe.